Quagmire
The thread killa strikes again
- Joined
- Jun 15, 2004
- Posts
- 530
- Reaction score
- 88
Nobody has posted this article yet, so I decided that this would be the time that I join. I have been reading posts here for at least a year now, but I never felt I had anything to add. I like the boards chemistry and plan on fitting in.
Are the suns going to keep the 7th pick? Is the fact that there will be no draft party this year foreshadowing the results of the expansion draft, a possible trade, or a certain acquistion? Also, it sucks that Barkley won't be a part of the ownership. It would be nice to have a nationally televised voice mentioning the Suns more often.
Sale of Suns should be done close to June 30
By Mike Tulumello, TribuneThe sale of the Suns is on track and has a good chance of closing by the intended date of June 30, according to both the current and incoming owner.
But the new ownership won’t include a couple of former big-name players who had said they were interested in investing in the club.Charles Barkley and Sean Elliott have dropped out, said current Suns chairman Jerry Colangelo and incoming owner Robert Sarver.
Said Sarver, "I don’t think athletes are different from other people. Often times, people will say, ‘Yeah, that sounds good.’ ‘’
But agreeing to a concept is much different than the commitment needed when "signing the documents and writing the check," Sarver said.
The only ex-player who will invest is Steve Kerr, who also will be on the club’s six-member management committee for the next three years, Colangelo and Sarver said.
Barkley indicated he wanted a voice in management in return for his investment.
"It would be $10 million, and I would have no say-so. I’d only get to say I’m part owner of the Suns.
"That’s a lot of money to give somebody and not have any say-so. It was a simple and easy decision."
Attempts to reach Elliott were unsuccessful. In the past he has said investing in the Suns could be seen as a conflict with his work as a broadcaster covering the NBA.
As far as meeting the June 30 closing date, Colangelo said, NBA officials are expected to arrange a teleconference before that date to approve the sale.
"We have a pretty good chance at June 30th," Sarver said. "If not, maybe a week later. But I don’t see much of a delay."
Under the proposed sale, 65 percent of the sale price of $401 million is due upon closing, the other 35 percent three years from that date.
Over the next three years, the Suns will be governed by the six-member committee, which also includes Colangelo and Sarver, with Colangelo breaking any ties.
"Nothing changes for three years," Colangelo said.
In three years, Sarver will take over, though Colangelo will still offer his advice and retain his title of chairman.
BONUS SHOT: The Suns will not stage a public function for next week’s NBA draft. Season-ticket holders can watch the draft at the arena pavilion at First Street and Jefferson starting at 4 p.m. June 24. The Suns are scheduled to draft at about 5:10 p.m.
Are the suns going to keep the 7th pick? Is the fact that there will be no draft party this year foreshadowing the results of the expansion draft, a possible trade, or a certain acquistion? Also, it sucks that Barkley won't be a part of the ownership. It would be nice to have a nationally televised voice mentioning the Suns more often.
Sale of Suns should be done close to June 30
By Mike Tulumello, TribuneThe sale of the Suns is on track and has a good chance of closing by the intended date of June 30, according to both the current and incoming owner.
But the new ownership won’t include a couple of former big-name players who had said they were interested in investing in the club.Charles Barkley and Sean Elliott have dropped out, said current Suns chairman Jerry Colangelo and incoming owner Robert Sarver.
Said Sarver, "I don’t think athletes are different from other people. Often times, people will say, ‘Yeah, that sounds good.’ ‘’
But agreeing to a concept is much different than the commitment needed when "signing the documents and writing the check," Sarver said.
The only ex-player who will invest is Steve Kerr, who also will be on the club’s six-member management committee for the next three years, Colangelo and Sarver said.
Barkley indicated he wanted a voice in management in return for his investment.
"It would be $10 million, and I would have no say-so. I’d only get to say I’m part owner of the Suns.
"That’s a lot of money to give somebody and not have any say-so. It was a simple and easy decision."
Attempts to reach Elliott were unsuccessful. In the past he has said investing in the Suns could be seen as a conflict with his work as a broadcaster covering the NBA.
As far as meeting the June 30 closing date, Colangelo said, NBA officials are expected to arrange a teleconference before that date to approve the sale.
"We have a pretty good chance at June 30th," Sarver said. "If not, maybe a week later. But I don’t see much of a delay."
Under the proposed sale, 65 percent of the sale price of $401 million is due upon closing, the other 35 percent three years from that date.
Over the next three years, the Suns will be governed by the six-member committee, which also includes Colangelo and Sarver, with Colangelo breaking any ties.
"Nothing changes for three years," Colangelo said.
In three years, Sarver will take over, though Colangelo will still offer his advice and retain his title of chairman.
BONUS SHOT: The Suns will not stage a public function for next week’s NBA draft. Season-ticket holders can watch the draft at the arena pavilion at First Street and Jefferson starting at 4 p.m. June 24. The Suns are scheduled to draft at about 5:10 p.m.
